Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1: A contract that is acknowledged before the law court is referred to as Options:
  A) informal contract
  B) formal contract
  C) contract of records
  D) specialty contract
  Show Answer
  The correct answer is C .
• Question 2:

  Communication process involves the transmission of a message over a selected channel to the

  Options:
  A) encoder
  B) receiver
  C) audience
  D) sender
  Show Answer
  The correct answer is B .
• Question 3: In e-banking, ATM means Options:
  A) Authentic Teller Manchine
  B) Autmatic Teller Machine
  C) All-purpose Teller Machine
  D) Automated Teller Machine
  Show Answer
  The correct answer is D .
• Question 4: The wealth of a nation depends on the volume of its? Options:
  A) bilateral trade activities
  B) commercial activities
  C) multilateral trade activities
  D) stock market
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  The correct answer is B .
• Question 5: Good and services are made available to consumers through Options:
  A) the channnel of distribution
  B) sales promotion
  C) the advertising agency
  D) the middle men
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  The correct answer is A .
• Question 6: A trader who gives credit stands to enjoy? Options:
  A) higher profit
  B) cash discount
  C) increased sles
  D) trade discount
  Show Answer
  The correct answer is C .
• Question 7: Which of the following best describes the classification of computer? Options:
  A) Mini-computer, speed and size
  B) Micro-computer, cost and abilities
  C) Mini-computer, Micro-computer and work station
  D) Mini-computer , hybrid and digital
  Show Answer
  The correct answer is C .
• Question 8: Which of the following sets of items was used for exchange in Nigeria before money was introduced? Options:
  A) cowries, iron rods, brass rods and copper rods
  B) iron rods, copper rods, manilla and cowries
  C) cowries, manilla, brass rod andcopper wires
  D) copper wires, brass wires, cowries and iron rod
  Show Answer
  The correct answer is C .
• Question 9: The social responsibility factor of an organization is geared towards Options:
  A) contributing to the sustenance and development of its host community
  B) operating without disrupting the very esssence of the environment
  C) tackling the soci-economic problems of the state
  D) meeting the needs and demands of the shareholders
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  The correct answer is A .
• Question 10:

  An organization which focuses on consumers satisfaction is practicing

  Options:
  A) Marketing concepts
  B) Selling concepts
  C) Consumerism
  D) Market segmentation
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  The correct answer is A .